Gail

GAIL Gas Ltd announces reduction in prices of CNG, PNG by upto Rs 7

GAIL Gas Ltd, the city gas arm of the nation's largest gas firm GAIL (India) Ltd, on Sunday announced a reduction of up to Rs 7 in the prices of CNG and piped cooking gas following a reduction in input gas price. GAIL Gas cut the price of the gas that households received through piped natural gas, or PNG, by Rs 7 per standard cubic metre in Bengaluru and Dakshin Kannada and by Rs 6 per scm in other cities where the company operates. Similarly, CNG price has been cut by Rs 7 per kg in Karnataka and by Rs 6 in other areas, the company said in a statement. "GAIL Gas Limited is also steering its pricing mechanism in line with the Government of India's guideline to pass on new domestic gas pricing benefits to its customers and has announced a substantial reduction in prices with effect from April 9, 2023," it said. The new effective domestic PNG prices are Rs 52.50 per scm in Dewas, Meerut, Sonipat, Taj Trapezium Zone, Raisen, Mirzapur, Dhanbad, Adityapur and Rourkela, and Rs 51.50 per

GAIL signs agreement with Shell Energy India on ethane sourcing

It is primarily used as petrochemical feedstock and is separated from the other components of natural gas in most well-developed gas fields

GAIL signs agreement with Shell Energy India for ethane production

GAIL India has signed an agreement with Shell Energy India Private Limited to explore opportunities for infrastructure development for ethane sourcing

NCLT approves GAIL's Rs 2,079 cr resolution plan for JBF Petrochemicals

The National Company Law Tribunal (NCLT) has approved the state-owned GAIL's Rs 2,079 crore resolution plan for JBF Petrochemicals, which owed Rs 7,918 crore to a consortium led by IDBI Bank. "We being satisfied approve the resolution plan submitted by GAIL (India) Limited.....the resolution applicant shall obtain necessary approvals required under any law for the time being in force within a period of one year from the date of approval of the resolution plan," the order issued by the NCLT Mumbai said on Monday. The other secured lenders of the company are Union Bank of India, Bank of Baroda, Exim Bank and Indian Overseas Bank, among others. These lenders made a claim of Rs 4,584 crore, but NCLT admitted a total claim of Rs 4,662 crore. GAIL offered to pay the bankers Rs 2,015 crore, which is a 43.23 per cent recovery for them. However, for the unsecured creditors and operational creditors, the recovery is much lower at 5.7 per cent and 6.9 per cent, respectively. The unsecured ..

GAIL declares interim dividend of 40% for financial year ending 2022-23

India's largest gas firm GAIL on Monday declared an interim dividend of 40 per cent or Rs 4 per equity share for the financial year ending March 31 (2022-23). The total dividend payout would be Rs 2,630 crore, the company said in a statement after its board of directors approved payment of an interim dividend. GAIL chairman and managing director Sandeep Kumar Gupta said the company has been providing shareholders with a steady long-term returns on their investments. The government of India, with 51.52 per cent shareholding in the company, will receive Rs 1,355 crore dividend.

GAIL India rallies 5% in weak market; hits 8-month high on heavy volumes

Gas transmission and trading volumes are likely to increase in FY24E with supplies coming from new sources, analysts say

GAIL imitates Reliance: Plans to import ethane from United States

India's largest gas firm GAIL is imitating billionaire Mukesh Ambani-led Reliance Industries Ltd in planning to import ethane from the US to replace natural gas and naphtha as feedstock at its petrochemical plants. "In a bid towards diversification of the feedstock, GAIL is looking to import ethane from ethane-surplus countries with matured export terminal infrastructure through water borne transportation to India and transport it further through GAIL's pipeline systems to demand centres," the company said in a tender document. It sought quotes to hire a very large ethane carrier (VLEC) for 20 years starting mid-2026 for importing ethane from the US. The ship with capacity of 80,000 to 99,000 cubic metres is targeted to take deliveries from US ports of Marcus Hook, Nederland, Morgan's Point or Beaumont and deliver ethane at Dahej or Hazira in Gujarat or Dabhol in Maharashtra. GAIL has a petrochemical plant at Pata, near Kanpur in Uttar Pradesh, and is also looking to set up another

First by an Indian PSU: GAIL scouting for 26% stake in US-based LNG project

Is open to either an existing plant or one scheduled to be commissioned by 2026-27; also wants to source one mtpa of gas the LNG liquefaction plant/project on FOB basis for 15 years

GAIL plans to buy up to 26% equity stake in LNG projects in United States

GAIL had run into supply disruptions last year after Russia-owned Gazprom Marketing and Trading (GMTS) failed to deliver some LNG cargoes

Stocks to watch: Adani Enterprises, ONGC, Nykaa, IRB Infra, Castrol India

Stocks to watch today: Adani Enterprises, ONGC, Coal India, Siemens, Grasim Industries, Eicher Motors, among others will report the October-December (Q3FY23) quarter results

Centre planning to introduce measures to bring down fertiliser subsidy

Centre's focus is to bring down the cost of gas which is a key component for production of urea. Information from official sources indicated that bids, some of which stood at more than $30

Govt made Rs 31,106 cr in FY23 through disinvestment, reports DIPAM

The sale of 3.5 per cent of its stake in the LIC through an IPO brought the govt Rs 20,516.12 crore as receipts

GAIL signs advance pricing agreement with CBDT; first oil, gas PSU to do so

GAIL is the first public sector undertaking in oil & gas sector in India to successfully sign the APA

Stocks to Watch: LIC, Zomato, Adani group, Varun Beverages, Voltas, M&M

Stocks to Watch: As per reports, MSCI on Thursday evening said it had cut its determined free float for four companies in the Adani Group: Adani Enterprises, Adani Total Gas, Adani Transmission & ACC

GAIL's prospects on the mend after poor Oct-Dec quarter showing

Most analysts have cut their Q4 and FY24 estimates but maintain 'buy' recommendations with price targets between Rs 115-Rs 125

GAIL Q3 net falls 92% to Rs 246 cr on higher prices, Russian gas disruption

Despite the hit to profits, revenue from operations rose to a record Rs. 1.11 trillion in the first nine months of FY23

GAIL Q3 profit drops 90% on petrochemical, natural gas marketing woes

State gas utility GAIL (India) Ltd on Monday reported 90 per cent drop in December quarter net profit after it suffered losses in petrochemical and natural gas marketing business. Consolidated net profit of Rs 397.59 crore in October-December 2022 is compared with Rs 3,800.09 crore earning in the same period a year back, according to the company's stock exchange filing. The nation's largest gas trading and transportation company booked Rs 349 crore loss in petrochemical business after it had to cut run rate due to curtailment in supply of cheaper domestic gas. Natural gas marketing division too incurred a loss while the pre-tax profitability of the core transmission business halved. Revenue from operations rose to Rs 35,939.96 crore in October-December 2022 from Rs 26,175.60 crore a year ago.

GAIL India seeks two LNG cargoes for February delivery, says report

GAIL is seeking the cargoes for delivery during the month of February on a delivered ex-ship (DES) basis into the country's Dabhol terminal

Top Headlines: PM Modi cautions against Covid, GAIL's LNG hunt, and more

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Russia's Gazprom turns off tap, GAIL's hunt for LNG may continue for a year

Its petrochem plant in UP running at 40% utilisation